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NIB, BSTDB to provide 50 mln euro for green transition in SEE

NIB, BSTDB to provide 50 mln euro for green transition in SEE Black Sea Trade and Development Bank/All Rights Reserved

TIRANA (Albania), December 17 (SeeNews) – The Nordic Investment Bank (NIB) and the Black Sea Trade and Development Bank (BSTDB) have agreed a 50 million euro ($55.7 million) loan programme to finance environmental projects in the Black Sea region and Southeast Europe, the NIB said.

“The funds of the 10-year loan facility will be used to finance environmental projects and investments that contribute to sustainable development and climate change mitigation, such as renewable energy and clean public transport projects, in the BSTDB’s region of operation,” the NIB said in a statement on Monday.

This is the fourth loan programme signed between NIB and BSTDB.

“We have a long-standing relationship with the BSTDB, having collaborated on environmental finance and climate change mitigation since 2004. We value this cooperation, as it allows us to contribute to sustainable growth in the countries beyond our own member region,” NIB president and CEO, Henrik Normann, said.

BSTDB was established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey and Ukraine. The bank supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries.

NIB is owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden.

($ = 0.89767 euro)